In state budget: 485-x, a yet-unspecified incentive for rental housing, plus an extension of 421-a deadline. Both presumably somewhat helpful to Atlantic Yards.
A state budget recently announced, if not fully specified, should incentivize new rental housing and also provide a lifeline to projects that started construction--put footings in the ground--under the only 421-a program. That should make construction of the remaining Atlantic Yards/Pacific Park towers somewhat more viable, though 1) the devil's in the details and 2) these aren't the only factors. Notably, the six development sites over the Metropolitan Transportation Authority's (MTA) Vanderbilt Yard face a foreclosure auction of developer Greenland USA's stake. That is scheduled for April 30, after being postponed twice, and it's unclear if it will go forward. Not only is a tax incentive needed to make the numbers work, any bidder must factor in the cost of a platform to enable vertical construction, the remaining cost to pay the MTA for development rights, and the pending damages of $2,000/month for each of the 876 affordable housing units not delivered by May 20